The sterling performance of the OM segment was offset by lower contribution from Property. Investment segment also registered strong earnings on the back of higher sale of investments.

New order wins of S$3.2bn is impressive. This accounts for 53% of our assumed order wins of S$6bn for the year.

Keppel has been able to secure strong orders leveraging off their global network of 20 yards as part of its strategy to be close to customers.

Group order book hovered at c.S$14.1bn as of Jun14 (marginally down from S$14.4bn three months ago), providing visibility till 2019. Medium term industry fundamentals remain robust, backed by high oil prices, ageing jack ups, and moderate growth in EP spending.